Life cover is insurance which pays out a sum of money on the death of the insured individual. This can be set up to provide a lump sum or monthly income to support loved ones should the worst case happen.
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It is designed to provide financial assistance to your loved ones when they can no longer rely on your salary or income.
The pay-out can be used for a range of means; to clear debts, pay off the mortgage or just cover everyday expenses. It could even pay for a funeral if nothing has been set aside for this.
With such decisions, there can be added factors to consider within the process. This can cause more stress and misunderstanding without the guidance of a professional.
When we think about the future it is increasingly more difficult not to think about what may happen to the family we leave behind.
In many cases your dependents or next of kin may become financially responsible for any outstanding debts or expenses like childcare costs, a mortgage or even funeral, medical or care costs.
Even those who have no outstanding debts upon their passing may wish to leave a financial legacy to their loved ones, help to contribute to the future cost of living for any dependents or give a small sum to help cover the cost of their funeral.
Whether an individual wishes to leave £1,000 or £500,000, life insurance can offer you peace of mind that those left behind will be taken care of.
At Ocreas Financial North Ltd we specialise in providing an individual service for each and every client to ensure that the product we recommend is the most suitable for their needs.
Whatever your reason for requiring life insurance, whether you are just married, buying a new home, starting a family, worried about inheritance tax or simply planning for your future we can provide and recommend a product that will match your requirements.